Short Interest in Akanda Corp. (NASDAQ:AKAN) Rises By 1,222.7%

Akanda Corp. (NASDAQ:AKAN) saw a significant increase in short interest in the month of April. As of April 30th, there was short interest totaling 283,034 shares, an increase of 1,222.7% from the April 15th total of 21,399 shares. Approximately 66.6% of the company’s shares are short sold. Based on an average daily volume of 10,639,964 shares, the short-interest ratio is currently 0.0 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Akanda from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Akanda Price Performance

AKAN stock opened at $24.79 on Tuesday. Akanda has a 1 year low of $2.30 and a 1 year high of $209.02. The firm has a 50-day moving average of $8.37 and a 200 day moving average of $13.70.

About Akanda

Akanda Corp., through its subsidiaries, engages in the cultivation, manufacture, and distribution of cannabis products to patients worldwide. It offers medicinal-grade cannabis and cannabis based medical and wellness products. The company was incorporated in 2021 and is headquartered in New Romney, the United Kingdom.